Disclosure

Finance Bloom Disclosure Information

About Market Space Limited (T/A Finance Bloom)

Finance Bloom (FSP744211) is a Financial Advice Provider that holds a licence issued by the Financial Markets Authority (FMA) to provide financial advice services. You can find Finance Bloom listed on the Financial Service Providers Register at fsp-register.companiesoffice.govt.nz.

Finance Bloom provides Financial Advise for Mortgage Finance. Finance Bloom also provide Business Loans & Asset Finance however we don’t provide advise on these products. This is based your profile and credit score. Finance Bloom started in June 2020 however our Advisers got an experience of more than 4 years in this market. Finance Bloom goals is to provide best advise to our clients because we work for you and don’t charge anything except the Asset Finance.

The conditions of the Finance Bloom licence allow me to provide the following financial advice services:

• Mortgage
• Personal Life Risk & Medical Insurance We Refer
• General Insurance we Refer
• Asset Finance & Business loans

Mortgage products

• Residential Home Loans including top ups and fixed rate rollovers
• Business Loans
• Personal Loans
• Non CCFA Loans

 

We provide advice in relation to products provided by the following lending companies:

• ASB Bank
  Heartland Bank
  ANZ Banking Group Limited
  Liberty Financial
  BNZ Bank
  Unity
  AIA Home Loans
  Sovereign Home Loans
  Avanti Finance
  Resimac
  Bluestone Finance
  SBS
  The Co-Operative Bank
  Southern Cross Partners
  PepperMoney
• Fees and expenses
• Mortgage and lending service fee
• Market Space Limited is usually remunerated by way of commission, by the providers of the loan products we recommend. On occasion, some providers may not pay a commission. In this situation, we will charge a fee for our advice. The fee payable will be a reflection of the time required to obtain a loan approval for you. Where a fee will be payable for the advice, your financial adviser will agree on the amount of the fee with you prior to obtaining a lending approval.
• Fees can be added to your loan amount and will be paid to Market Space Limited on behalf of your adviser at the time your loan is advanced.

 

Mortgage Service fee

• • Market Space Limited may charge a fee for financial advice provided to a client if the client cancels their mortgage within 27 months of inception. Specific fee information that will apply will be provided when the advice is provided. This fee will be payable by the client upon all parties agreeing and signing a fee mandate.

How I am paid

General Insurance

• Finance Bloom works with different referral partners and we get paid commission split from them.

How I am paid

• In place of an upfront fee, Finance Bloom is paid a commission by the recommended Referral partner from their commission.

Asset Finance & Business loans

• Finance Bloom provides advice that takes into account your individual circumstances to determine the secured or unsecured loans that best meet your personal goals and needs, based on your credit history and your ability to repay any lending.
• Finance Bloom does not offer financial advice, they only present the offers available to them from the relevant providers so that you can make a choice whether to proceed with one of the lending contracts offered..

Providers Finance Bloom works with

Finance Bloom has chosen to work with the following Lenders:

– Oxford Finance
– Auto Finance Direct
– Finance Now
– MTF
– Branded Financial
– Avanti Finance
– Efco Finance
– The Heartland Bank
– Brodland Financial
– Aotea Finance
– Get Capital
– Spotcap
– Prospa

• This means that Finance Bloom will only consider the providers listed above when recommending a loan to meet your needs.

How am I paid

• Finance Bloom charges from $195-$395 upfront fees for some Loan services which will be charged by the finance company. To ensure advice remains accessible, I am paid a commission by the provider of any product you put in place on the back of my recommendation.

How I manage conflicts of interest and put your interests first

• The services Finance Bloom offer are provided free of charge to my clients. This is because Finance Bloom is paid by the providers when one of their products is taken up on the back of my recommendation.
• Although Finance Bloom is paid by the providers, I always put your interests first:
• I follow a proven 6-step advice process that puts my client’s needs at the heart of the advice process
• I identify and disclose the maximum level of commission I may get on the back of my recommendation
• If my recommendation involves replacing the cover, I will provide a comparison of covers and explain what the recommended provider offers that your existing cover does not. I will also let you know if there is anything your existing provider covers that recommended provider will not.
• All my recommendations are provided in writing with an explanation as to how they are based on your individual needs
• Finance Bloom completes internal and external reviews of my advice process to ensure I follow a thorough review process that puts client interest first.

Duties

• Under the Financial Markets Conduct Act 2013, it is the duty of Finance Bloom to ensure I meet the standards of competence, knowledge, and skill set out in the Code of Professional Conduct for Financial Advice Services (Code of Conduct), which form part of the wider regulatory regime for financial advice and ensure I have the expertise necessary to provide you with advice; and give priority to your interests by taking all reasonable steps to ensure that the advice given to you is not materially influenced by my own interests or the interests of any other person connected with the giving of advice; and exercise care, diligence, and skill that a prudent person engaged in the occupation of giving related financial advice would in the same circumstances; and meet the standards of ethical behaviour, conduct, and client care set out in the Code of Conduct, to treat you as I should and to provide you with suitable advice.

What if something goes wrong

• I value the ability of my clients to provide feedback about the service they have received as well as the opportunity to put it right when they are unhappy with any aspect of my service.
• If you would like to raise concerns about the service you have received, I have an internal complaint process that I will follow when I receive your formal complaint.
• My internal process involves:

1. Requesting your complaint in writing
2. Acknowledging the receipt of your complaint within 2 working days of receiving it.
3. Investigating your concerns by speaking with all the involved parties and reviewing all the documentation I hold on file.
4. Providing a formal written response within 28 days of acknowledging your concerns.

• If you would like to make a complaint, please email: adi@financebloom.nz
  If you are unsatisfied with the outcome of my internal complaints process, you are able to escalate it to my dispute resolution scheme:
• Scheme: Financial Dispute Resolution Service
  Address: Freepost 231075
  PO Box 2272
  Wellington 6140
  Telephone number: 0508 337 337
  Email address: enquiries@fdrs.org.nz
• They are an independent dispute resolution service provider that helps resolve complaints about financial service providers, free of charge.